Project and process approaches to the regional development programs realization

The article is devoted to the studying application of project and process approaches while implementing regional development programs. The authors systematize modern approaches to the definition of the concepts of “project” and “project approach”. The article summarizes main methodological features and instrumental capabilities of the project approach, as well as its advantages in f implementing regional development programs such as focusing on the rational use of limited resources, realizing the goals of modernizing the economy, an effective form for assessing the effectiveness of regional programs and projects, synchronizing regional development documents. The main reasons for the lack of project approach implementation in the domestic economy are incomplete realization by the executive authorities of the appropriateness of applying the project approach; the imperfection of the regulatory framework in the standards development that determine the principles for the project implementation taking into account the specifics of the socio-economic development of a particular territory, excessive detailing of regulations and insufficient level of specialists for operating the project documentation. The authors propose the directions for increasing the efficiency of implementing regional development programs based on the project management principles, as well as criteria for a comprehensive assessment of the regional project effectiveness. The article describes the main stages of building a process management system and represents the indicators for assessing the project implementation effectiveness.